Catchmark Timber Trust (NYSE:CTT) Reaches New 1-Year High at $11.29

Catchmark Timber Trust Inc (NYSE:CTT)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $11.29 and last traded at $11.26, with a volume of 1236 shares traded. The stock had previously closed at $11.07.

A number of equities analysts have recently commented on the company. ValuEngine lowered Catchmark Timber Trust from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Catchmark Timber Trust has an average rating of “Buy” and an average price target of $10.75.

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.03. The company has a market cap of $559.69 million, a PE ratio of -4.57 and a beta of 1.24. The stock has a 50-day moving average of $10.48 and a 200-day moving average of $10.11.

Catchmark Timber Trust (NYSE:CTT) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.04). Catchmark Timber Trust had a negative return on equity of 58.86% and a negative net margin of 180.35%. The business had revenue of $28.66 million during the quarter, compared to analysts’ expectations of $32.30 million. Research analysts expect that Catchmark Timber Trust Inc will post -2.05 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in shares of Catchmark Timber Trust by 18.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 132,121 shares of the financial services provider’s stock worth $1,410,000 after purchasing an additional 20,244 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Catchmark Timber Trust by 4.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 51,133 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 2,066 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Catchmark Timber Trust by 198.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 32,970 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 21,907 shares in the last quarter. Royal Bank of Canada bought a new stake in shares of Catchmark Timber Trust in the 2nd quarter worth approximately $64,000. Finally, Summit Global Investments boosted its position in shares of Catchmark Timber Trust by 6.2% in the 2nd quarter. Summit Global Investments now owns 75,300 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

About Catchmark Timber Trust (NYSE:CTT)

CatchMark (NYSE: CTT) is a pure play timberland REIT that strives to deliver consistent and predictable per-share cash flow growth through disciplined acquisitions, active management, sustainable harvests and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, North Carolina, Oregon, South Carolina, Tennessee and Texas.

Featured Article: What Factors Can Affect Return on Equity?

Receive News & Ratings for Catchmark Timber Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catchmark Timber Trust and related companies with MarketBeat.com's FREE daily email newsletter.